Weekly renewables M&A round-up (Jan 25-29)

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Renewables Now covered M&A stories about First Solar, Shell, Naturgy, Northland Power and others over the past week. Below is the full list:

-- Encavis buys 110-MWp Dutch solar park for special fund

The asset management unit of German renewables operator Encavis AG (ETR:CAP) has acquired a 110-MWp solar park in the Netherlands for its special fund Encavis Infrastructure III (EIF III).

-- Adani Green to buy 20-MW solar farm in Uttar Pradesh

Adani Green Energy Ltd (BOM:541450), or AGEL, announced that it has agreed to buy the holding company for a 20-MW operating solar power plant in the Indian state of Uttar Pradesh.

-- Shareholders in Spain's Solarpack shed 12.4% in accelerated bookbuild

Four shareholders in Spanish solar power producer and developer Solarpack Corporacion Tecnologica SA (BME:SPK), sold a combined 12.39% stake in the company through an accelerated bookbuild.

-- AC Energy buys Solar Philippines subsidiary as part of JV plan

AC Energy Philippines (PSE:ACEN) has acquired a 97.6% stake in a subsidiary of solar and battery storage supplier Solar Philippines Power Project Holdings Inc, namely Solar Philippines Central Luzon Corp (SPCLC).

-- Leeward to buy 10-GW project platform from First Solar tied to panel orders

First Solar Inc (NASDAQ:FSLR) has struck a deal to sell a 10-GW utility-scale solar project platform to the development arm of US independent power producer Leeward Renewable Energy LLC.

-- Impax sells 110-MWp Dutch solar park to German pension fund

A fund owned by sustainability-focused investor Impax Asset Management Group Plc (LON:IPX) has offloaded a 110-MWp solar park in the Netherlands to German pension fund Versicherungskammer Group.

-- Boralex buys 20-MW solar project in New York state

Canadian renewables developer Boralex Inc (TSE:BLX) said it has closed the acquisition of a 20-MW solar project in New York state from Delaware River Solar LLC.

-- Brazil's Cade okays AES' acquisition of 158.5-MW wind portfolio

Brazil's competition regulator CADE has okayed the acquisition of a 158.5-MW wind portfolio by local power producer AES Brasil (B3:TIET11), formerly AES Tiete Energia SA.

-- Matrix Renewables to buy 154 MWp of DG solar in Chile

Madrid-based platform Matrix Renewables, created by asset manager TPG, will add 154 MWp of solar farms to its Chilean portfolio in a newly agreed acquisition from developer Verano Capital.

-- Israel's OPC Energy concludes acquisition of US gas, renewables co CPV

Private electricity company OPC Energy Ltd and three Israeli institutional investors have closed their USD-630-million acquisition of US gas and renewables developer and builder Competitive Power Ventures (CPV).

-- Eco Atlantic Oil & Gas forms renewables JV targeting European solar market

Canada’s Eco Atlantic Oil & Gas Ltd (LON:ECO) has launched a renewable energy joint venture (JV) with UK-based Nepcoe Capital Partners Ltd with the goal to source, acquire and develop high yield solar projects in the sunniest parts of Europe.

-- Sunlight Financial to gain NYSE listing via Apollo-backed reverse merger

US residential solar financing platform Sunlight Financial LLC will secure a listing in New York through a newly-agreed business combination with a publicly-traded special purpose acquisition company sponsored by Apollo Global Management Inc (NYSE:APO).

-- SUSI buys 90 MW of UK energy storage assets

Swiss asset manager SUSI Partners AG announced the acquisition of four energy storage assets in the UK with a combined capacity of 90 MW as part of a partnership with local battery storage developer Eelpower Ltd.

-- Shell joins Simply Blue in 300-MW floating wind project off Irish coast

Simply Blue Energy is selling to Shell New Energies a 51% stake in the project company for its Emerald floating wind project in the Celtic Sea.

-- Clairvest’s NovaSource continues with M&A push, merges with SunSystem

Two providers of operations and maintenance (O&M) services for renewable energy plants, namely NovaSource Power Services and SunSystem Technology LLC (SST), have completed a business combination.

-- Amazon, MHI and others invest in electrofuels co Infinium

US electrofuels company Infinium has wrapped up a funding round with the participation of Amazon’s Climate Pledge Fund, Mitsubishi Heavy Industries (MHI), AP Ventures, Neuman & Esser, and the Grantham Environmental Trust.

-- Blue Elephant buys 47 MW of Dutch solar

German firm Blue Elephant Energy AG (BEE) said it has acquired a portfolio of solar projects with a total capacity of 47 MW in the Netherlands.

-- IFM offers billions in cash for 22.7% stake in Spain's Naturgy

IFM Global Infrastructure Fund (IFM GIF) launched an offer to buy up to 220 million shares in Spanish power and gas utility Naturgy Energy Group SA (BME:NTGY) to take up to a 22.69% stake in the company.

-- France's Albioma acquires majority stake in Turkey's Gumuskoy geothermal power plant

France-based independent renewable energy producer Albioma said it completed the acquisition of a 75% stake in Turkish geothermal power plant Gumuskoy.

-- Enphase Energy buys Canadian solar software dev Sofdesk

US solar microinverter maker Enphase Energy Inc (NASDAQ:ENPH) said it has taken over Canada-based solar services software developer Sofdesk.

-- EEW sells 260-MWp Aussie PV project to unnamed renewables player

UK-based solar project developer Eco Energy World (EEW) has offloaded a 260-MWp solar project in Australia’s Queensland state to an unspecified renewable energy player.

-- Cubico to co-develop, buy 200-MW wind project in Victoria

London-based renewables investor Cubico Sustainable Investments will take part in the development of the roughly 200-MW Delburn wind project in Victoria and will become its owner before construction begins.

-- EDF Renewables takes full control of DG solar installer EnterSolar

EDF Renewables North America said it has become the sole owner of New York City-based distributed generation (DG) solar solutions provider EnterSolar.

-- PNE makes 280-MW solar portfolio purchase in US

Chicago-based wind farm developer PNE USA Inc, a unit of Germany’s PNE AG (ETR:PNE3), has acquired a 280-MW solar project portfolio in the US.

-- Avangrid clears HSR Act hurdle in PNM Resources acquisition

Avangrid Inc (NYSE:AGR), the North American clean energy business of Spanish group Iberdrola SA (BME:IBE), said that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR Act) has expired, putting the company a step closer to closing a merger deal with US utilities holding PNM Resources Inc (NYSE:PNM).

-- Frames buys 50% in Twinning Energy under Dutch hydrogen partnership

Dutch gas treatment products maker Frames Group BV has acquired a 50% stake in emission-neutral energy concepts developer Twinning Energy BV as part of a new partnership between the two, aimed at offering hydrogen mobility solutions.

-- Northland joins PKN Orlen in 1.2-GW Polish offshore wind project

Canada’s Northland Power Inc (TSE:NPI) will become the offshore wind partner of Polish oil refiner PKN Orlen (WSE:PKN) by acquiring a 49% stake in an up to 1.2-GW project in the Baltic Sea.

-- Battery firm Freyr to secure NYSE listing via merger with blank check co

Norwegian battery cells developer Freyr AS will merge with special purpose acquisition company Alussa Energy Acquisition Corp (NYSE:ALUS) to secure a listing in New York and create a combined company with a pro forma equity value of about USD 1.4 billion.